Following the transaction, KIT and Andrew Cornwall, the CEO of Ventura, will continue to hold stakes of 73.06% and 2.32% respectively.
Keppel Infrastructure Trust (KIT) will divest a 24.62% stake in Ventura Motors to private investment funds managed by Samsung Asset Management for A$130 million ($109 million).
Ventura Motors is the largest bus service provider with a fleet of about 900 buses and 12 depots in the State of Victoria, Australia. The company operates about 530 routes out of Melbourne’s 1,200 routes and transports over 42 million people annually.
